Commonwealth Bank reviewing credit card options for flood victims

Credit card instalments will be reviewed by the Commonwealth Bank to help out people in Riverina, New South Wales, affected by flooding.

The Commonwealth Bank has announced it will review credit card instalments for flood-hit customers in Riverina, New South Wales.

And the bank – which offers Commonwealth credit cards – said it will also consider requests for emergency Aussie credit limit increases because of the natural disaster.

Ross McEwan, the bank's group executive for retail banking services, added it was concerned about how much the flooding has affected local businesses and residents in the area.

"We've put special arrangements in place for our customers our staff are ready to assist them promptly with their financial concerns and enquiries," he noted.

Charges for term deposits are set to be waivered for people affected by the flooding, as well as branch service fees.

This news comes after the Bank of Queensland announced it would defer equipment finance repayments if necessary for flood-hit Queenslanders in order to help them get back on their feet.

By Emma North